This documentation is for an older Financial Statements offering. You might also be interested in the documentation our current Financial Statements product, which offers the ability to fully customize statements, add or edit categories and create multiple statements for different audiences - all within Phocas. Contact your Phocas account manager or Support in your region for more information about accessing this functionality. |
When you are in a financial statement mode, there is an additional menu called Columns, to the right of the period menu. In P&L mode, you can select from a number of 'financial' columns or choose a 'period mode'-style view. Select Columns > Financial to see the options. In Balance Sheet and Cash Flow there are fewer options and trial balance mode the financial columns menu does not appear.
In P&L mode the Columns menu contains a separate option to Include Periods. This displays a 'period mode'-style view of the selected financial statement, and the other options in the menu become unavailable.
The grid typically displays the following expandable headings:
The following rows are also displayed: Gross, operating and net profit.
The default columns are 'Current', 'Previous' and two variance columns (actual variance and percentage variance). The variance columns are grouped together under one heading (which includes the triangle, or Delta, symbol for change).
These help build a view of your P&L, e.g., starting with current and previous P&L only, then adding budget column to the grid, or more comparison columns.
If you have another stream, such as budget, and if you have selected Columns > Stream, there will also be stream and variance stream columns, as shown in the image above.
P&L is the only financial mode in which you see the stream and variance stream button. In additional to the default P&L you may see a budget stream, provided the database contains that stream.
Select Columns > Include Periods to see a 'period mode'-style view of the selected financial statement. The other financial columns are unavailable while in this view.
Only one measure can be selected at a time, e.g. 'amount', 'value', etc.
This mode displays a typical balance sheet layout, listing:
The following rows also display: Total Assets, Total Liabilities, Total Liabilities and Equity.
The available financial columns are 'previous' and 'variance'.
This mode displays a typical statement of cash flows, listing:
The only available financial column is 'previous'.
The following rows also display: Total net cash from activities, Cash at start of period and Cash at end of period.
This mode displays the movement in account balances between certain dates and is useful in helping to locate errors. If all accounting entries have been recorded correctly in your source data, the total of each column should be zero (this is the total row at the top of the grid). if it isn't zero then that means there is an error. A trial balance is typically the first step towards the preparation of financial statements.
Note that in trial balance mode the financial columns menu doesn't appear.
You may want to remove thousands, so that for example 4,000 becomes 4, and 57,300 becomes 57.3, and so on.
Select Measures > Formatting > Choose a measure (say, Value) > Custom and then manually type in this code:
Negatives are shown with a minus sign by default. You can change this to display them in parentheses, although this is for advanced users.
Select Measures > Formatting > Choose a measure (say, Value) > Custom and manually type in this code
To export a financial statement to a spreadsheet, choose a financial statement mode, e.g., P&L, and select Export > XLSX, as shown below. This produces an Excel spreadsheet containing the selected financial statement. To print more financial statements, select another mode and repeat the process.
The spreadsheet contains two tabs:
To print a financial statement, export to Excel and print from there.
You can tailor your view of financial statements by adding another level below the standard IAS 1 categories that appear in Phocas.
To do this, drag a dimension into the 'Levels' box, above the grid. When you expand this new level, it breaks the top level down into whatever level or sub category you have added. Expanding further takes you to account level. The level is retained when you export to Excel.
The additional level is available in all financial statement modes except for Trial Balance.
In P&L mode, drag the dimension 'Sub Category' into the box next to Levels. Note that you can't drag any of the top three dimensions (i.e., the standard categories of account, category and classification).
In the image below, expanding the top level (revenue) reveals three sub-categories, each reflecting the different types of revenue. Expanding one of these takes you down to account level.
Note that in financial statements view the Levels option automatically appears (apart from in trial balance mode) whereas in standard Phocas views, you need to activate this option via the Expand/collapse icon (next to the chart icon).
You can compare the performance of two or more regions, groups, companies, etc by matrixing in the Phocas grid and then switching back to Financial Statements view.
Do this by selecting any dimension below the top three (i.e., the standard categories of account, category and classification). Selecting a dimension takes you out of financial statement view and into the standard grid (in period mode). Without focusing click Matrix as you would in a standard database (see Compare data with Matrix mode). Then select the summary button (which takes you back to financial statement view) to see the results of your matrix side by side in P&L view, along with a 'total' section showing the sum of the matrixed items. You can also switch to balance sheet or cash flow to view the results.
Below are some examples of how you can use financial statement modes to drill down into your accounts using Phocas.
Select the 'division' dimension (or branch, or region, etc.). Choose a division and focus.
Then go back to the summary dimension at the top to view the P&L. You'll now see the P&L just for that division. You can choose to view the other financial statements for that division too by changing the mode.
You can compare the performance of two or more regions, groups, companies, etc by matrixing in the Phocas grid and then switching back to P&L mode.
Example. In the example below, the user wants to compare 'Bravo' and 'Charlie'. To achieve this:
The P&L results for Charlie and Bravo are displayed side by side, along with a 'Total' section to the left, showing the sum of the matrix.
This example shows how to conduct a calendar year P&L analysis for the 'last 12 months'.
The P&L statement now displays the change between calendar years 2016 and 2015.
Select Period > Custom
Choose 'Year'. Set the current period to start at 2015 and end at 2017. Save.
Then choose 'period' from the columns button. You'll get something like this:
To see the split between investing, financing and operating activities, choose Cash Flow mode. To look at the cash at the start of the period, and the cash at the end of the period, use Period > Custom to set a period for comparison.
Tip: you can also choose the ‘% revenue’ which works the same way, but shows you a different percentage.